Vietnam: Solid Biofuel Market 2024

Solid Biofuel Market Size in Vietnam

In 2022, after two years of growth, there was significant decline in the Vietnamese solid biofuel market, when its value decreased by X% to $X. Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Solid Biofuel Production in Vietnam

In value terms, solid biofuel production reached $X in 2022 estimated in export price. In general, production, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Solid Biofuel Exports

Exports from Vietnam

In 2022, the amount of solid biofuels exported from Vietnam rose remarkably to X tons, with an increase of X% compared with the previous year's figure. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, solid biofuel exports declined modestly to $X in 2022. In general, exports recorded significant growth. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Japan (X tons), South Korea (X tons) and the United Arab Emirates (X tons) were the main destinations of solid biofuel exports from Vietnam, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and the United Arab Emirates ($X) appeared to be the largest markets for solid biofuel exported from Vietnam worldwide, together comprising X% of total exports.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average solid biofuel export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price saw a pronounced decline. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Solid Biofuel Imports

Imports into Vietnam

In 2022, supplies from abroad of solid biofuels increased by X% to X tons, rising for the second consecutive year after five years of decline. In general, imports continue to indicate a strong increase. The growth pace was the most rapid in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, solid biofuel imports fell slightly to $X in 2022. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest solid biofuel supplier to Vietnam, with a X% share of total imports. Moreover, solid biofuel imports from Indonesia exceeded the figures recorded by the second-largest supplier, Cambodia (X tons), twofold. The third position in this ranking was held by the Philippines (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (X% per year) and the Philippines (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of solid biofuels to Vietnam, comprising X% of total imports. The second position in the ranking was held by Cambodia ($X), with a X% share of total imports. It was followed by the Philippines, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The average solid biofuel import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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